Prices fall 5.4% in the year to June

Updated: 22:53, Thursday, 9 July 2009

The latest figures from the Central Statistics Office show that the pace of falls in consumer prices quickened in June.

1 of 1 Food Prices dropped in June
Food
Prices dropped in June

Prices fell at an annual rate of 5.4%, compared with a 4.7% annual drop in May.

Read the CSO report

In recent months, prices have been falling at rates not seen since the early 1930s. Compared with May, prices dropped by 0.3%.

Summer sales meant clothing and footwear prices dropped by 2.6% in the month.

Mortgage repayments fell again as more ECB interest rate cuts were passed on to homeowners.

Food prices were also lower, but transport costs rose 1.5% as petrol and diesel prices increased.

A breakdown showed that prices of goods dropped by 5% in the year to June, while services showed a fall of 5.6%.

Clothing and footwear prices have fallen by more than 12% over the year, while housing, water, electricity, gas and other fuels - the category which includes mortgage repayments - are down 25.6%.

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